I want to see the difference between married filing jointly and married filing separate. Is there a way to do it without entering everything twice?

[rjs]

There is no good way to do the comparison in TurboTax Online. You would have to have two additional separate accounts to create the two married-filing-separately returns, and you would have to create each one from scratch. In the CD/Download Desktop TurboTax software you can use the What-If Worksheet to do an estimate of how separate returns would work out compared to a joint return, using the information from your joint return.

Don't spend a lot of time or effort figuring out a way to do the comparison. It's extremely unlikely that filing separately would come out better.

[Mike9241]

No. you need 3 returns. Joint and 1 for each spouse.

With online you may have to pay to see the results and only one return can exist. so you would have to do MFS for one spouse, and probably pay to see results - save as a pdf.  then do the other spouse which which will overwrite the first spouse done. fees(/) and save as a PDF. Then finally do the joint which will overwrite the the file for the second spouse.

other possibilities 3 accounts,one for each but you'll have to pay 3 times.

use a desktop version if your computer meets the minimum system requirements. one fee to purchase (1 state can be free with purchase additional states there is a fee). e-filing the federal is free. There's a fee to e-file state

[xmasbaby0]

If you were legally married at the end of 2023 your filing choices are married filing jointly or married filing separately.

Married Filing Jointly is usually better, even if one spouse had little or no income. When you file a joint return, you and your spouse will get the married filing jointly standard deduction of $27,700 (+$1500 for each spouse 65 or older)  You are eligible for more credits including education credits, earned income credit, child and dependent care credit, and a larger income limit to receive the child tax credit. 

If you choose to file married filing separately, both spouses have to file the same way—either you both itemize or you both use standard deduction. Your tax rate will be higher than on a joint return.

 Some of the special rules for filing separately include: you cannot get earned income credit, education credits, adoption credits, or deductions for student loan interest. A higher percent of your Social Security benefits may be taxable. Your limit for SALT (state and local taxes and sales tax) will be only $5000 per spouse. In many cases you will not be able to take the child and dependent care credit. The amount you can contribute to a retirement account will be affected. If you live in a community property state, you will be required to provide additional information regarding your spouse’s income. ( Community property states:  AZ, CA, ID, LA, NV, NM, TX, WA, WI)

 If  you are using online TurboTax to prepare your returns, you will need to prepare two separate returns and pay twice since with online, you get one return per fee.

https://ttlc.intuit.com/questions/1894449-married-filing-jointly-vs-married-filing-separately

https://ttlc.intuit.com/questions/1901162-married-filing-separately-in-community-property-states

https://ttlc.intuit.com/questions/1894449-is-it-better-for-a-married-couple-to-file-jointly-or-separ...

[Hal_Al]

Try this tool, for a bottom line comparison: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/?s=1

It's not as detailed as preparing separate returns and comparing.  As others have said, the best way to do that is with the download software. 

[Regularclient]

Someone mentioned a "What-If" tool that come with the CD but I can't find it.  Where IS the "What-If" tool please?

[xmasbaby0]

WHAT IF…?

If you are using Desktop software:

https://ttlc.intuit.com/questions/2895312-how-can-we-compare-married-filing-jointly-with-married-fil...

[DoninGA]

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@Regularclient wrote:

Someone mentioned a "What-If" tool that come with the CD but I can't find it.  Where IS the "What-If" tool please?

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If you are using the TurboTax desktop CD/Download editions, click on Forms.  When in Forms mode click on Open Form at the top left of the page.  Type in what-if and then click on the result to open the What-If Worksheet.

[Regularclient]

I tried this method using the what-if worksheet but when I open the worksheet, it hasn't populated any of the columns except for my original return: married filing jointly.  how to I make the what-if sheet grab ther data from my 2023 TT - which IS populated.

[Regularclient]

Ah - I see it up on the left.  Thanks anyway.

[rjs]

Here's how to use the What-If Worksheet to do an estimate of how separate returns would work out compared to a joint return. This can only be done in the CD/Download Desktop TurboTax software, not In TurboTax Online.

First complete your joint return. Then open the What-If Worksheet in Forms Mode. After you open the form, before you do anything, click on Help Center. In the introductory information at the top of the Help, scroll down a bit until you see the following paragraph.

"If you are preparing a Married Filing Joint vs Married Filing Separate comparison, it is very important that you read preparing a Married Filing Joint Versus Married Filing Separate Analysis."

The underlined part of that sentence is a link. Click on that link in the Help (not here in the community) and follow the instructions there.